Consumer Finance Monitor Podcast Episode: What Banking Leaders Need to Know About the U.S. Supreme Court Ruling That the CFPB’s Funding Mechanism is Constitutional Part I
Exploring the Potential of Georgia's Merchant Acquirer Limited Purpose Bank Charter — Payments Pros: The Payments Law Podcast
Consumer Finance Monitor Podcast Episode: Understanding the Credit Card Competition Act a/k/a Durbin 2.0
Analyzing the Credit Card Competition Act of 2023 - Payments Pros: The Payments Law Podcast
Rewards Programs and Co-Brand Relationships Between Credit Card Issuers and Merchants - The Consumer Finance Podcast
CFPB’s Increasingly Active Interest in Credit Reporting - FCRA Focus Podcast
As this year’s legislative session is wrapping up, two states, Virginia and Oklahoma, enacted legislation to reform their laws related to surcharges. May 2, 2025, Virginia Gov. Glenn Youngkin signed Senate Bill 1212 to amend...more
On April 15, 2025, Judge Mark T. Pittman of the U.S. District Court for the Northern District of Texas entered an order and final judgment vacating the CFPB's credit card penalty fees rule (the Late Fee Rule). Judge Pittman's...more
Credit card surcharging is on the rise. Imposing a surcharge in a compliant manner is more than adding a fee at the point of sale. Below we review on a high level the legal and commercial considerations for merchants before...more
On January 17, the CFPB published in the Federal Register a Request for Information (RFI) about a number of aspects of the consumer credit card market, as mandated by the CARD Act. The RFI seeks public input to shape the...more
On October 22, 2024, the Consumer Financial Protection Bureau (CFPB) issued its long-anticipated Open Banking Rule (the Open Banking Rule) under Section 1033 of the Dodd-Frank Act, fundamentally reshaping the data-sharing...more
On July 1, 2024, California’s law banning hidden fees took effect. Under the Consumer Legal Remedies Act (CLRA), SB 478 provides that businesses transacting with California consumers may not apply additional fees or charges...more
In an unusual move, the CFPB is coming to the defense of a bank being accused of failing to provide repayment disclosures to a borrower....more
The SEC has issued a controversial 886-page final rule imposing climate-related disclosure requirements on publicly traded companies, including banking organizations, which will require them to include certain climate-related...more
On February 11, 2024, a new law went into effect in New York, establishing important limits and rules for surcharging. Enacted in December 2023, the new statute has a price disclosure component, detailing how surcharge prices...more
Credit card surcharging has increasingly gained the attention of consumers, businesses, and regulators over the past few years, and for good reason. As inflation continues to squeeze businesses and consumers alike, many...more
Under a new law that took effect on February 11, 2024, all “sellers” in New York who apply a credit card surcharge to sales transactions must now comply with certain consumer disclosure requirements. Signed into law by...more
Last month, New York Governor Kathy Hochul signed into law Assembly Bill 2672, which both prohibits sellers from charging a credit card surcharge greater than what they are charged by the credit card company and requires...more
On December 7, 2023, Atlantic Union Bank (the “Bank”) entered into a consent order with the Consumer Financial Protections Bureau (CFPB) related to its in-person and telephone overdraft opt-in sales practices during...more
The Haifa District Court recently handed down a ruling in a motion to certify a class action filed against Ofir Tours Ltd. by its customer. The plaintiff bought an Eilat hotel vacation through Ofir Tours, paying in credit...more
In April 2023, the Federal Trade Commission announced a number of consumer protection actions and inquiries involving an important U.S. Supreme Court Ruling regarding the ability of defendants in FTC and SEC actions to raise...more
Regulatory Developments - Agencies Issue Joint Statement on Liquidity Risks Resulting from Crypto-Asset Market Vulnerabilities - On February 23, the Federal Reserve, FDIC and OCC (the Agencies) issued a “Joint...more
On December 11, 2019, PayPal, Inc. (PayPal) filed suit against the Consumer Financial Protection Bureau (CFPB) in the District of Columbia, challenging the CFPB’s Prepaid Accounts Under the Electronic Fund Transfer Act...more
The CFPB released its sixth annual report to Congress on college credit card agreements. The annual report is mandated by the CARD Act. ...more
The Federal Reserve Board announced that it had issued a Consent Order against Mid America Bank and Trust Company (Bank) for alleged deceptive marketing practices in violation of section 5 of the FTC Act related to balance...more
EDITOR’S NOTE - Summer blockbuster season is officially upon us. Have you seen Wonder Woman yet? What about Guardians of the Galaxy Part 2? It’s déjà vu all over again with Baywatch, Pirates of the Caribbean, Alien,...more
On June 15, 2017, the Consumer Financial Protection Bureau (“CFPB”) released proposed revisions to its final Prepaid Accounts Rule (“Final Rule”). The Final Rule was published in November 2016 and was subsequently amended to...more
Judge Trims Proposed Class Action Over Wendy’s Data Breach - Torres v. Wendy’s Int’l, LLC, No. 16-cv-0210 (PGB) (DCI) (M.D. Fla. Mar. 21, 2017). A U.S. district court judge in Florida trimmed a proposed class action...more
The Supreme Court in Expressions Hair Design et al. v. Schneiderman held that New York’s law prohibiting credit card surcharging (General Business Law §5 18) regulates speech, and on Wednesday asked the Second Circuit to...more
The U.S. Supreme Court held last week that New York’s ban on credit card surcharging is a restraint on speech under the First Amendment. Expressions Hair Design v. Schneiderman, No. 15-1391 (U.S. Mar. 29, 2017). The case was...more
In a unanimous decision, the U.S. Supreme Court recently held that retailers engage in protected speech when they communicate their prices to customers. Specifically, the Court addressed communication regarding differential...more